The continued decline on the US stock markets and a sell-off on the Japanese stock market put further pressure on the German stock market on Monday. In addition, the boom in artificial intelligence (AI) suffered another setback. Investors’ nervousness increased. It was again similar to the level seen during the Corona crisis, the market said, with a view to the range of price fluctuations.
Dax recovers significantly from its daily low of around 17,025 points
Ultimately, the Dax 1.82 percent to 17,339.00 points and recovered significantly from its daily low of around 17,025 points. However, it remains the lowest level for the German stock market barometer since February. In the three trading days since the beginning of August, the Dax has now lost just over six percent. 3.5 percent of its annual gain so far remains.
On the Asian stock markets, technology stocks suffered particularly from a report that AI powerhouse Nvidia is postponing the launch of new chips due to defects. Nvidia As a major beneficiary of the AI boom, it triggered this year’s rally on the US technology stock exchange Nasdaq.
SDax temporarily drops by almost six percent
The fear of a recession in the United States is also affecting the stocks below the DAX in Germany. MDAX of medium-sized stocks lost 2.04 percent to 23,964.39 points on Monday. For the SDaxwhich had temporarily dropped by almost 6 percent, fell by 2.62 percent. Medium-sized and smaller companies are often particularly dependent on the economic cycle.
The stock markets across Europe and in the USA also looked gloomy. The EuroStoxx 50 lost 1.45 percent to 4571.60 points. The country stock exchanges in Zurich and London fell even more sharply. In the USA, the Dow Jones Industrial and the Nasdaq stock exchanges fell by just over 2 percent at the close of European trading.
Continental is considering spinning off its automotive supply division
In the DAX there were mostly losers. Infineon However, after a significant up and down, they gained 1.3 percent. In the third quarter, the Munich-based company’s business improved slightly, which stopped the downward trend of the previous quarters. In addition, the chip manufacturer stuck to its annual targets despite the difficult environment.
The automotive supplier and tire manufacturer Continental is considering spinning off the automotive supply division. If the spin-off were to happen, it would be the most comprehensive corporate measure to date, but one that would also have a clear capital market logic, said Jefferies analyst Michael Aspinall, commenting on the plans. The share price lost 1.2 percent.
United Internet: Share price falls by 17.6 percent
At the end of the MDax, the shares of United Internet The Internet and telecommunications group had lowered its expectations for the year as a whole following the temporary failure of the mobile network of its subsidiary 1&1. Its shares fell by 13.2 percent, bringing it to the bottom of the SDax.
Aurubislost 11.9 percent after the copper company’s mixed quarterly figures. In the SDax, Now by 12.1 percent after the IT service provider had reduced its earnings forecast due to sluggish demand.
The euro rose to 1.0971 US dollars in the evening. The European Central Bank set the reference rate at 1.0966 (Friday: 1.0835) US dollars. The dollar thus cost 0.9119 (0.9229) euros.
On the bond market, the yield on bonds fell from 2.22 percent on Friday to 2.12 percent. The Rex bond index rose by 0.64 percent to 127.26 points. The Bund future recently fell by 0.10 percent to 135.08 points.
